Section 3 in International Financial Services Centres Authority (Salary, Allowances and other Terms and Conditions of Service of Chairperson and Members) Rules, 2020.
3. Selection Committee.
(1)The Chairperson and Member shall be appointed by the Central Government on the recommendation of a Selection Committee consisting of the following persons, namely:-(a)Cabinet Secretary - Chairman;(b)Principal Secretary to the Prime Minister or his nominee - member;(c)Secretary, Department of Economic Affairs - member;(d)three experts of repute (to be nominated by the Central Government from a panel of experts in the fields of Finance, Economics, Law, Public Administration, Financial Markets and related subjects maintained by it) - member.(2)The Selection Committee shall be a Search-cum-Selection Committee and shall determine its procedure for making its recommendation to the Central Government:Provided that the Selection Committee shall, after taking into account the suitability of the persons including record of past performance, integrity as well as regulatory experience keeping in view the requirements of the Authority, recommend a panel of two or three persons for appointment to each post.
